Bookkeeping

In some jurisdictions, the sales tax is called Goods and Service Tax (GST) and this shall need to offset against the GST on the purchase before making payment to the GST to tax authority. In addition, in some other jurisdictions, the sales tax is called commercial tax (CT). The mechanism…

For example, if a project is expected to require 10,000 labor hours and 4,000 hours have been worked so far, the project would show as 40% complete in an ERP software like Intuit Enterprise Suite (IES). That being said, non-applicable activities for the evaluation of a long-term contract include architects,…

What is a Fiscal Year? When Does It Start? In Austrian economics, the fiscal year might be evaluated with skepticism towards centralized economic planning and its efficiency across accounting periods. Retailers, wholesalers, and other businesses with a lot of inventory often fiscal year definition and meaning use this model to…